09/13/2013

Stay Informed About State Retirement Taxation

Ifyou're thinking of relocating, compare the taxes in potential retirement statesto those in your current state. Wherever you retire, you may be eligible forsenior-related breaks on retirement income, property taxes and sales taxes.

Where do you want to spend yourgolden years? Regardless of where you decide to retire, make sure you check outmore than the average weather forecast. Prepping for a retirement location goesway beyond the temperature and scenery.

Each state is different when itcomes to the legal and tax environment a retiree or estate planner will face.

Remember, you are planning forthat special place where you intend to spend your golden years. That means youwill need to consider the effect of location on both your retirement and yourestate.

The Kiplinger article provides a state-by-state run down on the taxbasics and a colorful map to guide you. Each state offers various perks andchallenges to the retirees that are well worth investigating and understanding.

Since choosing your retirementlocation is one of those significant life events, you should follow thecarpenter’s rule of thumb: measure twice and cut once.